Gold’s future is still in question…
“The Fed’s muddled message will likely dissuade investors from taking large positions, particularly every time the monthly Fed meetings roll around. It is clear from the recent market reaction that investors still do not have a clear sense as to when the Fed will move and even how the central bank is (interpreting) the macro data. In the latter regard, the inventory of statistics accumulated from May through to September made a rather persuasive argument that a modest taper should have been in the cards and the fact that it was not, raises more questions than answers,” said Edward Meir, commodities consultant at INTL FCStone, to Kitco.
With a 2.8 percent increase on Friday, September 20, Japanese palladium bar was the biggest mover on the Global Precious Metals MMI®. US palladium bar finished the day up 1.9 percent. Chinese palladium bar held its value last Friday.
The price of US platinum bar declined 0.3 percent. Japanese platinum bar gained 0.3 percent. The price of Chinese platinum bar remained essentially flat.
The price of Indian gold bullion fell 0.8 percent. The price of Japanese gold bullion increased 0.8 percent. The price of US gold bullion remained steady, the price of Chinese gold bullion was essentially unchanged.
Indian silver finished the day down 2.4 percent. After a 0.6 percent increase, US silver finished the day. Japanese silver saw its price rise 0.6 percent, while Chinese silver stayed flat.